Better Senior Living As one spends a major part of the life making sacrifices and compromises for children's education and welfare, there is a tendency to forget about ones own well-being. One needs to start investing for oneself at a young age in order to lead a comfortable and respectable old age.
Besides investing in stock markets, mutual funds, fixed deposits and gold it is best to invest in real estate too. Having some additional property has its own advantage. Not only does its market value increase, it is also a source of income to many. Property rentals will help you to earn money and provide you with better senior living.
Whatever your budget or your preference in locations, there is always something for everyone. If one cannot afford the cost of houses in cities, think about vacation home projects available on the outskirts of the city. Once a person has bought a house in the city, it is logical to invest in a house on the outskirts.
If you have taken a home loan for your house, look for a mortgage which offers an opportunity to repay faster. If the housing loan can be paid off before retirement age, it will be easier to multiply your savings.
Man knows little of what fate has in store for him. When you take a home loan, it is on the basis and assumptions of continuing income. We run into all kinds of risks, in our daily life. Accidents and health issues like heart attacks, stroke, paralysis, kidney failure and other physically crippling ailments can cause loss of income. A home loan is a fairly long-term liability. This is why when you take a home loan it is advisable to take out a life and critical illness insurance policy.
Life insurance policy will provide monetary benefit to your spouse in case of death; it ensures that your spouse will inherit your home - not your home loan. A critical illness policy will take care of the home loan payments if your income gets interrupted due to unforeseen, unavoidable circumstances. This will be one less thing to worry about while you are planning your retirement.
Also maintaining medical insurance will save you from paying medical bills which could eat into your savings. So a proper planning will make your old age secure and safe. A regular source of income from funds, bonds and rent from your investment house will help you to carry on your retired life smoothly.
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